Buttercoin was a private business based in Palo Alto, California and provided digital currency services within the United States. Buttercoin was created in 2013 by Cedric Dahl and Bennett Hoffman and managed to raise over $1 million in funds from many different investors including Google Ventures, Reddit and Y Combinator. Despite this large amount of financial backing, the business ceased operations in 2015 due to a loss of interest in the Bitcoin market from venture capital firms. Buttercoin was notable to be the first Bitcoin business to receive financial backing from a large Wall Street institution (Wedbush Securities).
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